3 Ways ATM Monitoring Increases ATM Revenue
ATM monitoring can help you increase your ATM revenue. If you own an ATM, you know how important it is to make sure it’s always in operation. You can’t make money if your ATM doesn’t work. If your machine isn’t reliable, you will lose customers.
ATM monitoring not only helps you from losing revenue, but it can help you increase it as well. Not to mention putting more in your pocket by avoiding preventable disasters.
What is ATM Monitoring?
ATM monitoring is often named with descriptors like online, remote, and real time. All this means is that it is a system that provides ATM owners with updates and alerts regarding ATM functions 24/7.
ATMs have advanced technologically to provide more services and features. So there is much more to monitor than simply availability status.
Earlier ATM monitoring systems simply provided an availability status, leaving ATM operators in the dark about fixing problems. Can you imagine calling a service tech every time your machine has an issue? Especially since a majority of ATM errors are easy for you to address yourself without any technical support.
Now, ATM monitoring not only alerts you when there’s a problem, but it also provides insights into what the issue is. This way, you can save time and money fixing problems. You have complete control over your ATM operation.
Real time ATM monitoring allows you to analyze transactions, understand issues, troubleshoot errors, and keep your machine running. ATM monitoring provides many benefits to an ATM business, especially businesses that have more than one ATM machine to maintain.
First, it alerts you when there are issues whether mechanical or security. Second, it provides insight into failed customer interactions. Finally, it allows you to create predictive solutions to prevent future problems.
More complex issues can arise than just cash or paper jams. Your machine could experience connection issues, screen or display malfunctions, card reader malfunctions, and more. But with real time ATM monitoring, you can enhance security, improve the customer experience, and increase revenue.
How Does ATM Monitoring Work?
We won’t get into all of the technical details behind ATM monitoring, but we can provide you with a couple of examples.
There is a lot of variation in configuration responsibilities, workflows, geography, devices, vendors, etc. Rather than spend unnecessary time and money waiting for service specific to you and your needs from one particular institution, ATM monitoring offers a more flexible, operator-driven solution.
With a system configured precisely for you, you are always prepared even as the system needs change. You can generate your own reports, customize user access and abilities, and create dashboards without having to get the vendor involved at every stage. The result is an entire life cycle of your machine stored in a single database that you can access 24/7.
For example, if your ATM machine experiences a cassette issue, a ticket can be automatically created and routed to the appropriate vendor. This vendor sees the ticket (again, in real time via their own online portal), and can apply already established parameters to address the issue and close the ticket all from within one monitoring tool.
The process is similar for addressing failed customer interactions. If the system registers three consecutive failed transactions, you want to know what is causing it. Are the attempted transactions potentially fraudulent? Is there a connection issue? Is there a problem with the card reader? No matter the problem, a situation like this can trigger an automatic alert routed immediately to customer service.
Therefore, ATM monitoring systems help you run your ATM business more smoothly. The more aware you are of your machines, the better customer service you will be able to provide to your users. And the happier your users are, the more money you make.
3 Ways ATM Monitoring Increases ATM Revenue
1. Minimizes Downtime
You can’t make money if your ATM isn’t functioning. And you lose money when customers can’t rely on your machine. ATM monitoring alerts you when your ATM machine experiences issues.
For example, it can let you know when your machine is running low on cash. That way, you can refill it before it runs out and make sure there are no periods when your machine is empty.
With real time monitoring, you also know when your machine experiences problems like connection issues, cash and paper jams, and other technical malfunctions. When these occur, you can address them immediately and minimize the amount of downtime your machine experiences.
The less downtime, the more money you make. And the more reliable your machine is, the more customers you will attract.
2. Improves Customer Service
You need your machine to be functioning in order to make money from transactions. But if your machine is slower or less reliable than others, you could lose customers to your competition. So you want to make sure you stay on top of ATM network connection, jams, and dispenser malfunctions.
ATM monitoring can also provide you with analytic data you can use to improve and streamline your business. For example, find out what days your machine is busiest so that you can make sure it’s filled before it runs low. This way, you don’t even have to worry about a low bin alert.
You can also see what causes failed customer transactions. Tracking this data can help you resolve issues quickly and even help you prevent issues from arising at all. Taking the time to analyze your data provides your customers with the best service and translates into more revenue for you.
3. Increases Security
Finally, real time ATM monitoring allows you to keep eyes on your machine at all times, even when you aren’t on-site. ATM monitoring helps you detect and prevent fraud. With real time ATM monitoring, you know which transactions occur when, which are successful and which aren’t, and what activity is unusual.
Want to know what goes on when you aren’t around? ATM monitoring makes that possible.
How to Get ATM Monitoring
Now you’re convinced that you need ATM monitoring to help run your ATM business more smoothly. So how do you get it set up?
Real time online monitoring is a service offered by your ATM processing company. So when looking for an ATM company to work with, you might want to make sure they offer online monitoring. Then, the company will host a portal where you can login and search for your machine(s). You should also be able to view this information from your phone, allowing you to monitor your ATM machines remotely 24/7.
ATMDepot is one ATM processing company that provides online access to your ATM terminals. By logging in from a desktop or mobile device, you can check on your ATM transactions in real time. You can also print statements, view deposit reports, and perform many other functions. Furthermore, you can set up low balance alerts via text message to let you know when one of your ATMs is running low on cash. This way, you can better manage cash replenishment. ATM monitoring allows you to better serve your customers and make more money. Try it today!
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